Kinney Asset Management LLC Reduces Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Kinney Asset Management LLC lessened its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 68.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,490 shares of the company’s stock after selling 194,000 shares during the quarter. Mohawk Industries accounts for 13.2% of Kinney Asset Management LLC’s investment portfolio, making the stock its 4th largest position. Kinney Asset Management LLC owned approximately 0.14% of Mohawk Industries worth $14,058,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MHK. Allspring Global Investments Holdings LLC increased its holdings in Mohawk Industries by 12.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 117,143 shares of the company’s stock worth $15,333,000 after buying an additional 13,089 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Mohawk Industries during the 1st quarter worth approximately $1,450,000. BNP Paribas Financial Markets raised its holdings in shares of Mohawk Industries by 4.7% in the 1st quarter. BNP Paribas Financial Markets now owns 52,984 shares of the company’s stock worth $6,935,000 after purchasing an additional 2,399 shares during the period. Quent Capital LLC lifted its stake in Mohawk Industries by 27.2% in the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after purchasing an additional 106 shares during the last quarter. Finally, Graypoint LLC grew its holdings in Mohawk Industries by 9.6% during the first quarter. Graypoint LLC now owns 3,687 shares of the company’s stock valued at $483,000 after purchasing an additional 323 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.

Mohawk Industries Stock Performance

Mohawk Industries stock opened at $134.28 on Friday. Mohawk Industries, Inc. has a fifty-two week low of $78.30 and a fifty-two week high of $164.29. The firm’s fifty day moving average price is $152.80 and its 200-day moving average price is $134.39. The stock has a market cap of $8.48 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.46 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.03.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays decreased their price objective on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $140.00 to $160.00 in a research report on Monday, October 7th. Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Royal Bank of Canada dropped their target price on Mohawk Industries from $140.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Finally, Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $196.00 in a research report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Insider Buying and Selling at Mohawk Industries

In other news, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the transaction, the insider now directly owns 119,369 shares in the company, valued at approximately $18,042,624.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $151.15, for a total value of $347,645.00. Following the completion of the sale, the insider now owns 119,369 shares of the company’s stock, valued at approximately $18,042,624.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the completion of the transaction, the insider now owns 118,709 shares in the company, valued at approximately $17,979,665.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,660 shares of company stock worth $550,488 over the last 90 days. Corporate insiders own 17.10% of the company’s stock.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.